Egypt regulator clears France Telecom's Mobinil offer

Nieuws Mobiel Egypte 23 APR 2012
Egypt regulator clears France Telecom's Mobinil offer
Egypt's financial market regulator EFSA said that France Telecom can go ahead with a tender offer for a stake in mobile operator Mobinil held by local shareholder Orascom Telecom Media and Technology, Reuters reports. France Telecom plans to buy most of OTMT's stake for EUR 1.5 billion. Some media had reported that EFSA may reject the deal, or was delaying it until the French firm responded to a request for information. In a statement confirming its approval, EFSA gave a list of technical requirements the companies must fulfill, such as publishing full details of the tender offer within two days.

Categories:

Mobiel

Companies:

France Telecom,  MobiNil,  Orascom Telecom

Countries:

Egypte

Tags:

Regulations, M&A buyouts & divestments

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